Trust Officer
Greater New York City Area
Park Avenue Receivables Corporation (PARCO) - bankruptcy-remote, special-purpose corporation doing business as a multi-seller asset backed commercial paper conduit. Asset interests acquired by the purchase or finance of receivables originated by foreign and domestic entities (sellers) through the proceeds raised from the issuance of notes, obligations of PARCO, with discount (or interest) expected to be paid at maturity from collections allocated from this discrete portfolio of financial assets. A variety of credit enhancement features provided the support that enabled the notes to maintain short-term debt ratings of A-I, P-I and F-l.• Managed all facets of daily activity for multi-seller conduit concomitant with $10 Bln + in cp outstanding, 48 sellers, and 14 distinct asset classes.• Directed the placement, confirmation and release of discounted and floating rate trades with Morgan Stanley, Goldman Sachs or Chase Securities.• Communicated with sellers daily, reviewing funding requirements, borrowing base, portfolio performance, forecasting, collections, invoicing, etc.• Performed detailed analysis of transaction documents for the production of key structural, financial covenant and compliance summaries for staff.• Priced and advanced administrative and resource cost allocation factor on proposed transactions, successfully increasing CMFS revenues by 10%.• Conveyed critical business and technical specifications, managing implementation of cp splitting functionality on liability management platforms.• Ensured adequacy of program enhancements and liquidity levels (intra-day lines, letters of credit, swing lines, reserves) sized to credit exposures.• Designed, maintained and enhanced spreadsheet models involving seller specific and program wide cash flows, compliance, or portfolio analysis.• Supervised and trained staff members on daily task performance and attainment of group wide objectives and interviewed prospective candidates.